UPDATE: Stifel Nicolaus Raises PT to $23 on SEI Investments Company; New Sales Acceleration

Stifel Nicolaus raises its price target from $21 to $23 on SEI Investments Company SEIC as outlook brightens amid acceleration in new sales. Stifel Nicolaus notes, "SEIC Q1 EPS of $0.28 were in line. The earnings were helped by $0.01 of investment gains, net of unusual expenses. Most prominent in the quarter was the acceleration in new business across all segments. Private Banking announced three new clients equal to $9 million in annualized revenues; this brings the number of GWP clients to 17." SEIC closed at $ on Wednesday.